Aeovian Pharmaceuticals: $50 Million Raised To Develop Selective mTORC1 inhibitors

Good news, new mTORC1 inhibitors are moving forward with good funding. This is the startup that Dudley Lamming is an advisor to. This drug could eventually be a new and improved version of rapamycin type drugs. This would be a good submission to the ITP program. I will email Dudley to see if he’s made a submission.

Aeovian Pharmaceuticals – a clinical-stage biopharmaceutical company developing novel and highly selective therapeutics that potently inhibit the mTORC1 pathway – announced that it dosed the first cohort of participants in a Phase 1 clinical trial for its lead development candidate AV078, a first-in-class CNS penetrant selective mTORC1 inhibitor. The company also recently completed a $50 million financing led by Hevolution. Hevolution was joined by existing investors Apollo Health Ventures, Sofinnova Investments, venBio, Evotec, and b2venture.

This funding will support the completion of the Phase 1 clinical trial in healthy volunteers and prepare for the start of a subsequent Phase 2 clinical trial in adult and pediatric patients with TSC refractory epilepsy. And the company has also expanded its leadership team by appointing seasoned industry veterans William Greene, M.D. (Chief Investment Officer at Hevolution) and Justin Gover (former Chief Executive Officer of GW Pharmaceuticals) to its Board of Directors and Micah Zajic as Chief Financial Officer.

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